A Get Out of Jail Free Card

09Mar10:42 amEST

Rope in a Few Bounce Plays

In last night's video both here and with Members we discussed the often-overlooked 150-day simple moving averages being tested on both ARKK and TSLA. Seeing as they are bouncing hard along with most things tech this morning as rates back off, we now have context going forward for mot bounce plays: Should ARKK and TSLA surrender their 150-day...

08Mar4:22 pmEST

Stock Market Recap 03/08/21 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

08Mar10:45 amEST

Tepper Monday Front Runs Turnaround Tuesday

With his well-earned gravitas in play, hedge fund manager David Tepper threw his market-weighted opinion around this morning again, reminiscent of the post-Labor Day 2010 rally after his famous "balls to the wall long" exhortation on CNBC. Given that equities had managers to find some footing, albeit in a violent way, on Friday, I had decided...

06Mar3:05 pmEST

Two Stimmy Setups 03/06/21 {Video}

05Mar10:55 amEST

Rebuilding is Inevitable

A fairly pronounced downside reversal off a gap higher this morning, led by ARKK QQQ TSLA and the small and micro cap stocks in the IWM and IWC, respectively, has the look and feel of a market still in an ongoing correction with a rising risk of a washout below given how many longs seem to be cocksure a bottom is imminent. One of the...

04Mar3:04 pmEST

So Winter's Over: That's the Story at Least

So that is it? A few days of the Nasdaq burning longs and suddenly today we are seeing a plethora of statistics and number crunchers implying a bottom is imminent. Call me old-fashioned (and I certainly feel that way in this market at times), but the QQQ has not even sniffed its 150-day simple moving average (red line on daily chart for the...

04Mar10:23 amEST

The Great American Market Awaits Daddy Powell

There was a time, not too long ago, when market players started and ended their careers on Wall Street, and indeed their entire lives, without thinking or discussing The Fed very much. I would reckon the average market player now ponders and discusses The Fed at least tenfold over traders from previous generations, even during the Greenspan era...

03Mar4:31 pmEST

Stock Market Recap 03/03/21 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

03Mar2:34 pmEST

The Fight is On

It may very well be the case that was spooked markets most today was the inability of the Nasdaq and growth stocks at-large to bounce in sympathy with the intraday relief in TLT earlier in the session. Instead, QQQ slumped to fresh session lows. And as we wok through the final ninety minutes of the session the Dow is now flipping red, erasing...

03Mar10:54 amEST

A Get Out of Jail Free Card

The Nasdaq is back to trading lower in lockstep, or so it seems, with prices on the 10-Year Note as rates push higher yet again this morning. Just as it seemed as though we would waterfall lower, a rumor apparently hit the tape that Powell may announce some form of Yield Curve Control tomorrow. My best guess is that the Fed is simply putting...